Hazza Bin Zayed: Abu Dhabi continues building solid industrial sector

ABU DHABI: The government of the emirate of Abu Dhabi will continue the development its economic growth assets and the building of solid industrial foundation for the comprehensive and sustainable boom in its effort to realize the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and reflect the interest of His Highness Gen. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces in continuing the nation’s growth and development aspired for the leadership and the people alike, according to H.H. Sheikh Hazza bin Zayed Al Nahyan, National Security Advisor and Deputy Chairman of Abu Dhabi’s Executive Council.

Sheikh Hazza made his remarks as he inaugurated the completion of Emirates Steel’s AED 7 billion (US$ 1.9 billion) Phase 2 expansion programme in an event staged on facility grounds in the Industrial City of Abu Dhabi (ICAD1).

Expressing satisfaction over the expansion’s high-quality production system which uses state-of-the-art technology to provide highly efficient services.

He also praised the highly qualified Emirati human resources who contributed to the success of the new project which is among the national industry’s assets for speeding up the emirate’s non-oil gross domestic product.

Sheikh Hazza also praised the role of the private sector in the national industrial sector as a driver for the nation’s economic growth.

Phase 2 has increased Emirates Steel’s total production capacity to 3.5 million metric tons per annum (MTPA). He relayed to reporters at a press conference that the development is part of the massive endeavor that is set to increase Emirates Steel’s production to around 5.5 million MTPA within the next three years.

Emirates Steel launched the two-phased, AED 10 billion (US$ 2.72 billion) expansion program in January 2006, completing Phase 1 in June 2009 at a cost of AED 3 billion (US$ 816 million), more than doubling production capacity and making it the largest steel plant in the UAE, capable of manufacturing raw steel from iron oxide pellets.

Emirates Steel is also the leading producer of reinforcing bars (rebar), and is recognized as one of the foremost wire rod producers in the GCC. Besides the Company’s finished rebar, wire rod and sections; Emirates Steel also has the capacity to produce and sell Direct Reduced Iron as a semi-finished product.

The Company is now the sole producer of jumbo and heavy sections in the MENA region, which will offer improved products and drastically reduced lead times in terms of piece count and cut-to-length services.